Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 18/12/18

Bitcoin Cash – ABC Hits the $90s

Bitcoin Cash ABC rallied 11.98% on Monday, following on from a 3.58% gain on Sunday, to end the day at $88.49.

Tracking the broader market through the day, Bitcoin Cash ABC rallied from an early morning intraday low $77.89 to a late in the day intraday high $91.00, breaking through the day’s major resistance levels before pulling back through the third major resistance level at $88.94 by the day’s end.

While hitting $90 levels for the first time since 13th November, the bearish trend formed at mid-November’s swing hi $290 remained intact, with the bulls needing to break out from the 23.6% FIB of $125 and target the 38.2% FIB of $156 to begin a bearish trend reversal.

At the time of writing, Bitcoin Cash ABC was up 1.22% to $89.57, a mixed start to the day seeing Bitcoin Cash ABC fall from a start of day morning high $89.88 to a morning low $87.79 before recovering, the major support and resistance levels left untested early on.

For the day ahead, a move through to $90 levels would support a run through Monday’s high $91 to bring $93 levels and the first major resistance level at $93.7 into play, with sentiment across the broader market to dictate whether Bitcoin Cash ABC can breakout out to hit $95 levels before any pullback.

Failure to move through to $90 levels could see investors take some froth off the top of Monday’s gains, a pullback through the morning low likely to bring $85 levels into play before any recovery, a broad based crypto sell-off needed to bring the day’s first major support level at $80.59 into play on the day.

Litecoin Jumps Again

Litecoin jumped by 14.51% on Monday, following on from Sunday’s 7.91% gain, to end the day at $28.88.

Rallying from a start of a day intraday low $25.15, Litecoin broke through the first major resistance level at $26.83 and second major resistance level at $28.43 to an intraday high $30.48 before easing back late in the day.

It was Litecoin’s first visit to $30 levels since 6th December, though the recent run has not been enough to reverse the extended bearish trend formed at early May’s swing hi $182.35.

At the time of writing, Litecoin was up 0.21% to $28.94, with moves through the early morning seeing Litecoin recover from an early morning low $28.43 to hit a morning high $29.60 before easing back, the major support and resistance levels left untested early on.

For the day ahead, a move back through the morning high $29.6 would support a run through Monday’s high $30.48 to bring $31 levels and the first major resistance level at $31.19 into play, though sentiment across the broader market will need to remain bullish for Litecoin to break through to $31 levels.

Failure to move back through the morning high could see Litecoin fall back through the morning low $28.43 to bring $27 levels into play before any recovery, the day’s first major support level at $25.86 unlikely to be tested barring a broad based crypto sell-off.

Ripple Plays Catch Up

Ripple’s XRP surged by 15.42% on Monday, following a lackluster 0.95% gain on Sunday, to end the day at $0.33814.

Recovering from an early morning intraday low $0.29073, Ripple’s XRP rallied through the 2nd half of the day to an intraday high $0.34895 before easing back, Ripple’s XRP breaking through the day’s major resistance levels with ease through the day.

For the bulls, a breakout from the 23.6% FIB of $0.4164 to $0.50 levels and the 38.2% FIB of $0.5225 would be needed for a bearish trend reversal to begin forming.

At the time of writing, Ripple’s XRP up 3.18% to $0.3489, with moves through the early morning seeing Ripple’s XRP rally from an early morning low $0.33632 to a morning high $0.35398 before easing back, the day’s major support and resistance levels left untested early on.

For the day ahead, a move back through the morning high $0.35398 would support a run through to $0.36 levels to test the day’s first major resistance level at $0.3612, while a breakout to $0.37 levels would need support from the broader market on the day.

Failure to move back through the morning high could see Ripple’s XRP struggle later in the day, a pullback through the morning low $0.33632 to $0.32 levels a signal of a possible reversal, with the day’s first major support level at $0.3029 very much in play in the event of a shift in sentiment through the day.

The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.

RISK DISCLAIMER

This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.